Spire Missouri raises $350M in first mortgage bonds at 6.200%
What's the deal? Spire MissouriDealroom has a profile for this one. Try Dealroom →, a subsidiary of utility holding company Spire Inc.Dealroom has a profile for this one. Try Dealroom →, issued $350 million in First Mortgage Bonds carrying a 6.200% coupon and maturing in 2036. The company disclosed the completed sale in a Form 8-K filing on October 8, 2026.
Who's involved? BofA SecuritiesDealroom has a profile for this one. Try Dealroom →, TD Securities (USA)Dealroom has a profile for this one. Try Dealroom →, Regions SecuritiesDealroom has a profile for this one. Try Dealroom →, and U.S. Bancorp InvestmentsDealroom has a profile for this one. Try Dealroom → served as representatives for the underwriters, under an agreement dated October 5, 2026.
What's the money for? Net proceeds will go toward general corporate purposes, potentially including repayment of short-term debt, according to the filing.
The fine print: The bonds are secured under Spire Missouri's Mortgage and Deed of Trust, originally dated February 1, 1945, and amended most recently by the Forty-Second Supplemental Indenture dated October 8, 2026. Regions BankDealroom has a profile for this one. Try Dealroom → acts as successor trustee. The bonds were issued under a registration statement on Form S-3 filed with the Securities and Exchange Commission on May 7, 2025.
The signal: Long-dated secured debt remains a core financing tool for regulated utilities, which fund infrastructure with stable, asset-backed borrowing. The 6.200% coupon reflects the rate environment utilities now face when tapping public bond markets.
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